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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

Novo Resources Corp. is a gold explorer focused on discovering gold projects. The Company is engaged primarily in the business of evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. It has a land package covering approximately 6,700 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. Its key project area is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration. The Company is also advancing gold exploration at Nunyerry North. It focuses on undertaking early-stage exploration across its Pilbara tenement portfolio. It has also formed lithium joint ventures with both Liatam and SQM in the Pilbara which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.


TSX:NVO - Post by User

Post by smilingmickeyon Dec 31, 2020 2:37pm
173 Views
Post# 32204805

The information is there if you search!!

The information is there if you search!!Here is part of the RNS NVO issued re the purchase of the Millenium Mill

"A decision by Novo to place the Beatons Creek Project into production following the completion of the Acquisition might be made without being based on a technical report, preliminary economic assessment, pre-feasibility study or feasibility study of mineral reserves demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. It is further cautioned that the mineral resource is preliminary in nature and includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability."

Maybe the ore will not be suitable for the Millennium MIll? Enough to suggest to some that NVO was taking a great risk with shareholder's money? Maybe including the accountants at Kirkland Lake? Is this the reason for the plunge in the share price?

A trawl through NVO's many RNS's plus 43 101 resource estimate reports related to the Beaton Creek deposit would suggest that NVO has very good reason to expect that the ore will be of suitable quality to feed the newly refurbished mill, despite the lack of a written Feasibility Study. eg Novo has an RNS dating back several years, suggesting that an upgraded gravity separation plant (of a type much used in Australia) would be just the job!  Is this not what  "Acacia" is?

Why was Beatons Creek Ore never likely to be put through the Millennium Mill  or a Feasibility Study  never written?

Answers on a post card.

SM
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